SPICES OF INDIA

INTRODUCTION OF SPICE INDUSTRY

• A spice is a seed, fruit, root, bark, or other plant substance primarily used
for flavoring, coloring or preserving food. Spices are distinguished from herbs,
which are the leaves, flowers, or stems of plants used for flavoring or as
a garnish.
• European explorers such as Ferdinand Magellan, Vasco da Gama, and
Bartholomeu Dias began their long sea voyages to discover a sea route to the
sources of spices. Christopher Columbus went westwards from Europe in 1492 to
find a sea route to the lands of spices but found the Americas.
• Spices were among the most demanded and expensive products available in
Europe in the Middle Ages, the most common being black
pepper, cinnamon (and the cheaper
alternative cassia), cumin, nutmeg, ginger and cloves.
 Spices were all imported from plantations in Asia and Africa, which made them
expensive.
 HOME FOR SPICES
 India is known as the home of spices and boasts of a long history of trading with the
ancient civilizations of Rome and China. Today, Indian spices are the most sought-after
globally, given their exquisite aroma, texture and taste. India has the largest domestic
market for spices in the world. India is the world's largest producer and exporter of spices
of the 109 varieties listed by the International Organization for Standardization (ISO), as
the country produces and exports about 75 varieties of spices.
 India primarily exports pepper, chilli, turmeric, ginger, cardamom, coriander, cumin,
fennel, fenugreek, celery, nutmeg and mace garlic, tamarind and vanilla. Processed spices
such as spice oils and oleoresins, mint products, curry powder, spice powders, blends and
seasonings are also exported.
 The US is the major importer followed by China, Vietnam, the UAE, Malaysia, Saudi
Arabia, the UK, Germany, Singapore and Sri Lanka. In 2014-15, India exported spices
worth US$ 2.42 million.
 CURRENT SCENARIO
 India is traditionally known as the spice bowl of the world. According to the
Bureau of Indian Standards, about 63 spices are widely grown in our country. India
has a worldwide reputation as the only country which produces almost all kinds of
spices. These spices sector also play a significant role in the development of Indian
economy. India is the number one country since 1961 in the production and
processing of spices. The total production of spices is about 1063000 MT with the
value of $ 1377339 billion.
 CURRENT SCENARIO
 The present study attempts to analyze the situation of Indian spice
industry. India is producing more than 4 million tones of spice and is
exporting around 180 spice products in over 150 nations. The Indian
spice sector has registered the rise by 26 percent in terms of dollar value.
The total area under spices in India is 2.3 million hectares and the annual
production of spices in our country is around 27 lakh tones, valued
approximately at Rs. 13000 crore.
 CURRENT SCENARIO
 The net share of Indian spices in world trade is about 35 percent. The
Indian spice processing industry have the various problems like
availability of standardized raw material, unscientific production
method, negligence in training of personnel; obtaining finance,
marketing problems etc. The Indian spice processing industry have
bright future as agro processing units because India may be a big spice
basket for majority of countries in the world as India is the largest
producer and processor of spices.
TOP EXPORTERS OF SPICES IN WORLD
TOP IMPORTER OF SPICES IN WORLD
 How Indian Spice Export is Performing
 Spices Board Chairman Dr A. Jayathilak said chilli, cumin, turmeric,
cardamom, garlic and mint products have been amongst the most
demanded Indian spices, meeting the increasing demand for quality spices
in global markets. “Moreover, the Board’s efforts to promote these spices
have resulted in an appreciable increase in their exports,” he added.
 “What is satisfying is that India’s exports of spices and spice products have
been consistently moving up in the face of volatility in international
markets and stringent food safety regulations imposed by countries across
the globe,” he noted.
 In dollar terms, India’s exports of spices and spice products during the first
half of the current fiscal were pegged at US$1373.97 million as against
1299.96 million dollars during the same period in 2016, notching an
increase of 6%.
IMPORTANCE OF SPICES IN INDIAN ECONOMY
Spices play an important role in the agricultural economy of the country.
The total value of spices produced in India was about 7000 crores annually.
The important among them are black pepper, cardamom small and large,
ginger, turmeric, chillies, garlic and variety of seed and tree spices. India’s
trading partners are the USA, Malaysia, Sri Lanka, Bangladesh, UK,
Singapore and Japan .
India has exported 62 varieties of spices during this period includingcumin,
red chilli, pepper, turmeric, green cardamom etc. Cumin is the most
demanded Indian spices in foreign countries as it covered 38% value of the
spices exports.
 SOCIAL IMPORTANCE OF SPICES
 cuisine is famous all around the world for its great taste, colors and
aromatic spices. Sometimes those who experience Indian dishes once find
other food let Indian bit tasteless. Indian cuisine also enjoys the enviable
reputation of being very healthy and unique in taste.
 India is a diverse country with followers of many religions living together
for centuries and so you will see diversity in different recipes for cooking
Indian food. Indian cuisine offers a mind-blogging variety of food. The
Persian, Mughal and the Greek influence truly reflects in numerous dishes
even today. It can be seen significantly in Haryana, Punjab, UP, Delhi, and
Kashmir.
 Turmeric, for example, has large number of anti-inflammatory,
antibacterial and antiseptic properties.
 INDUSTRY PROFILE
OVERVIEW OF INDUSTRY
 Spices is the 660th most traded product and the 1097th most complex
product according to the Product Complexity Index (PCI).
 The top exporters of Spices are China ($480M), India($367M), the
Netherlands($136M), Spain ($121M) and Germany ($121M). The top
importers are the United States ($243M), Germany ($133M), the
Netherlands ($131M), Japan ($125M) and the United Kingdom ($111M).
 Spices is also known as ginger, saffron, turmeric, curcuma, thyme, bay
leaves, curry.
 Spices is a 4 digit HS92 product.
 Spices India export most
 PEPPER
 CARDAMON
 AGWAN
 CORINDER
 TERMERIC
 SAFFRON
 CINNAMON
 TAMARIND
 CHILLI
 EXPORTS TRENDS
LAST 10 YEARS EXPORT OF SPICES FROM INDIA
YEAR TOTAL EXPORTS GROWTH PECENTAGE
2008-09 $ 1686.84 +19%
2009-10 $1616.5 -5%
2010-11 $3063.01 +28%+
2011-12 $2742.93 -11%
2012-13 $2746.63 -1%
2013-14 $2871.86 +5%
2014-15 $2954.88 +3%
2015-16 $3185.21 +8%
2016-17 $3310.35 +4%
*VALUE IN US DOLLAR
 SPICES

3500 3310.35
3185.21
3063.01
2871.86 2954.88
3000 2746.63
2742.93

2500

2000
1686.84
1530.84 1616.54 SPICES

1500

1000

500

0
2007-2008 2008-2008 2009-2010 2010-2011 2011-2012 2012-2013 2013-2014 2014-2015 2015-2016 2016-2017
 OBSERVATION
 In 2007-08 , total spice export were $1530.84. but in 2008-09 The SPICE EXPORT is an all time
high both in terms of volume and value. Compared to last year, the export had shown an increase
of 19 per cent in rupee value and six per cent in quantity. In dollar terms, the increase is six per cent.
 in 2008-09, total spice export were $ 1686.84, but in 2009-10 export of chili and pepper went
down because major importer of pepper, u.s denied to buys 950 tones of pepper out of 2000 tonnes.
And Pakistan major importer of chili absence its buy which lead decrease in export from 26000
tonnes to 20000 tonnes.
 the export of spices from India during 2010-11 has registered an-all-time-high both in quantity and
value, surpassing the export target of 465,000 tonnes valued Rs 5,100 crore .
 During 2010-11, a total of 525,750 tonnes of spices and spice products valued at Rs 6,840.71 crore
(USD 1,502.85 million) were exported, as against 502,750 tonnes valued at Rs 5,560.50 crore (USD
1,173.75 million) in 2009-10 .This is an increase of five percent in volume and 23 percent in rupee
terms of value. In dollar terms the increase was 28 per cent.
 In 2011-12-the record rise in exports of cardamom and sharp rise in the value of chilli exports contributed
to a record achievement in spices export. Cardamom exports totaled 4,650 tonnes, valued at Rs 363.22
crore.
 A quantity of 935 tonnes of large cardamom valued Rs 68.30 crore was exported, up 21 per cent in volume
and 53 per cent in value than the previous year. The UAE, the UK, Pakistan and Kuwait were the major
importers of cardamom.
 Chilli export exceeded more than 40 per cent in value compared with the previous year though the
increase in quantity is negligible.
 During April-March 2012-13, a total of 699,170 tonnes of spices and spice products valued `11171.16 crore
(US$ 2040.18 Million) has been exported from the country as against 575,270 tonnes valued `9783.42 crore
(US$ 2037.76 Million) in 2011-12 registering an increase of 22 per cent in volume and 14 per cent in rupee
terms of value.
 the export of cardamom (large), chilli, coriander, cumin, fennel, fenugreek, celery, other seeds like
mustard, aniseed, ajwain seed etc., nutmeg and mace, garlic and other spices such as asafetida, tamarind
etc., have shown an increase both in volume and value as compared to 2011-12.
 During 2013-14, a total of 8,17,250 tone of spices and spice products valued at Rs 13735.39 crore
(US$2267.67 million) have been exported from the country as against 7,26,613 tone valued at Rs 12112.76
crore (US$2212.13 million) in 2012-13 - registering an increase of 12% in volume and 13% in rupee terms
and 3% in dollar terms of value.
 In 2014-15, a total of 893,920 tonnes of spices and spice products were exported, registering a nine per
cent increase. In 2014-15, chilli, cumin, turmeric, coriander and ginger accounted for more than 70 per
cent of the total volume of spice exports. Mint, chilli, spice oils &
oleoresins, cumin and pepper accounted for 70 per cent of the total export earnings.

 In 2015-16 Boosted by large shipments of nutmeg, mace, cumin and garlic, spices exports from India grew
five per cent in volume in the first half of FY 2016-17 and rose to Rs 8415.97 crore during the period,
registering a seven per cent increase in value. The total value of exports was Rs 7892.65 crore during the
corresponding period last fiscal year.
 In 2016-17 India's spices export grew by over 6 per cent to $2.63 billion in 2016-17 on account of robust
demand in international markets. In rupee terms, the shipments recorded a growth of 9 per cent last
fiscal at Rs 17,664.61 crore. In 2015-16, spices and related product export aggregated $2.48 billion (Rs
16,238.23 crore)
 PRODUCT WISE10 YEARS EXPORT TREND IN SPICES
COMMODITY 2007- 2008- 2009- 2010- 2011- 2012- 2013- 2014- 2015- 2016- 2017-
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
PEPPER 0.82 0.37 0.22 0.59 1.12 1.24 2.10 2.14 0.85 0.74
CARDAMOM 0.66 0.65 0.79 1.06 4.39 0.61 0.15 0.17 0.51 0.07 0.06

AJWAN 1.88 1.44 1.63 2.53 3.69 2.69 2.47 3.22 4.07 5.67 4.16

CORINDER 9.50 9.44 6.42 4.00 4.99 6.48 9.25 12.71 13.66 15.15 14.56

TURMRIC 16.52 22.77 33.06 77.09 72.10 47.30 44.71 51.50 62.45 81.01 74.16

SAFFRON 0.39 0.64 0.96 0.80 0.75 0.85 0.64 0.84 0.36 0.41 0.30

CINNAMON 0.14 0.14 0.09 0.06 0.11 0.21 0.30 0.45 0.56 0.68 0.87

TAMARIND 7.11 7.62 7.13 15.48 23.63 15.63 9.27 9.92 10.8 17.58 18.55

CHILLI 53.70 56.23 62.98 71.78 97.59 101.54 102.41 52.54 47.15 67.32 60.3
 MAJOR PRODUCTS
ITC {HS} code of major & potential spices of India
ITC(HS) CODE PRODUCT LEADING PRODUCERS
0904 PEPPER KERALA, KARNATAKA, ASSAM
09109 CARDAMON KERALA, SIKKIM, NAGALAND
09109914 AJWAIN TELANGANA, RAJASTHAN, ANDRA
PRADESH
0909 CORINDER RAJASTHAN, GJUJRAT, MADHYA
PRADESH
091030 TURMERIC TELANGANA, MAHARASHTRA,
TAMIL NADU
091020 SAFFRON KARNATAKA, KERALA, ANDRA
PRADESH
0906 CINNAMON KARNATAKA
081340 TAMARIND KARNATAKA, TAMIL NADU,
KERALA
090420 CHILLI ANDRA PRADESH, TELANGANA,
MADHYA PRADESH
 MAJOR MARKETS
PEPPER
COUNTRY 2012-13 2013-14
USA 109.8 123.29
VIETNAM SOC REP 73.21 61.11
MALAYSIA 62.81 64.65
THAILAND 53.28 79.8
SRI LANKA DSR 44.53 48.15
MEXICO 28.63 17.5
BANGLADESH PR 27.31 60.16
UK 21.05 23.65
CHINA P RP 15.8 6.51
INDONESIA 14.61 23.63
U ARAB EMTS 13.07 11.75
 PEPPER
2% 2012-13
27.31, 3% 2% 1% 1%
3% Total
4% USA
VIETNAM SOC REP
5% MALAYSIA
6% THAILAND
596.48, 56% SRI LANKA DSR
7%
MEXICO

10% BANGLADESH PR
UK
CHINA P RP
 PEPPER
COUNTRY 2013-14 2014-15
USA 123.29 144.98
THAILAND 79.8 90.42
MALAYSIA 64.65 63.83
VIETNAM SOC REP 61.11 122.81
BANGLADESH PR 60.16 57.63
SRI LANKA DSR 48.15 63.74
UK 23.65 24.49
INDONESIA 23.63 25.47
MEXICO 17.5 27.46
U ARAB EMTS 11.75 16.27
GERMANY 10.74 16.37
 PEPPER
2% 2013-14
2%
3% USA
5%
5% THAILAND
MALAYSIA
24%
VIETNAM SOC REP
9% BANGLADESH PR
SRI LANKA DSR
11% 15%
UK
INDONESIA
12% 12% MEXICO
U ARAB EMTS
 PEPPER
COUNTRY 2014-2015 2015-2016
USA 144.98 175.76
VIETNAM SOC REP 122.81 135.27
THAILAND 90.42 107.92
MALAYSIA 63.83 62.22
SRI LANKA DSR 63.74 76.45
BANGLADESH PR 57.63 28.97
MEXICO 27.46 23.08
INDONESIA 25.47 33.75
UK 24.49 32.85
GERMANY 16.37 21.95
U ARAB EMTS 16.27 21.95
 PEPPER
2014-2015
2% 2%
4% USA
4%
VIETNAM SOC REP
4%
22% THAILAND
MALAYSIA
9% SRI LANKA DSR
BANGLADESH PR
10% 19% MEXICO
INDONESIA
10%
UK
14%
GERMANY
 PEPPER
COUNTRY 2015-2016 2016-2017
USA 175.76 141.14
VIETNAM SOC REP 135.27 194.06
THAILAND 107.92 111.03
SRI LANKA DSR 76.45 77.95
MALAYSIA 62.22 67.26
INDONESIA 33.75 61.59
UK 32.85 29.97
BANGLADESH PR 28.97 45.57
MEXICO 23.08 30.9
GERMANY 21.95 12.37
U ARAB EMTS 21.95 26.51
 PEPPER
2015-2016
3% 3%
3% USA
4%
VIETNAM SOC REP
4%
24% THAILAND
SRI LANKA DSR
5%
MALAYSIA
9% INDONESIA
UK
19%
11% BANGLADESH PR
MEXICO
15%
GERMANY
 PEPPER
COUNTRY 2016-2017 2017-2018
VIETNAM SOC REP 194.06 241.25
USA 141.14 112.59
THAILAND 111.03 88.53
SRI LANKA DSR 77.95 52.13
MALAYSIA 67.26 47.04
INDONESIA 61.59 43.3
BANGLADESH PR 45.57 19.46
 PEPPER
2016-2017
3% 1%
4% VIETNAM SOC REP
4%
USA
24% THAILAND
6%
SRI LANKA DSR
8% MALAYSIA
INDONESIA
8%
18% BANGLADESH PR
MEXICO
10%
UK
14%
U ARAB EMTS
GINGER, SAFFRON, TURMERIC (CURCUMA),
THYME, BAY LEAVES, CURRY AND OTHER
SPICES
Country Values in US$ Million Quntity in thousands
2012-2013 2013-2014
USA 38.1
UK 24.51 2.11
U ARAB EMTS 21.72 0.02
SAUDI ARAB 15.27 0.15
NEPAL 15.2 6.05
BANGLADESH PR 11.17 0
NIGERIA 11.15 0.02
SOUTH AFRICA 10.92 1.73
VIETNAM SOC REP 10.38 8.06
GINGER, SAFFRON, TURMERIC (CURCUMA), THYME,
BAY LEAVES, CURRY AND OTHER SPICES
2012-2013

6% USA
7% UK
24%
7% U ARAB EMTS
SAUDI ARAB
7% NEPAL
BANGLADESH PR
10% 15%
NIGERIA

10% SOUTH AFRICA

14% VIETNAM SOC REP
GINGER, SAFFRON, TURMERIC (CURCUMA),
THYME, BAY LEAVES, CURRY AND OTHER SPICES
COUNTRY 2013-14 2014-15
USA 29.04 34.03
U ARAB EMTS 20.08 29.28
BANGLADESH PR 8.06 25.23
UK 19.71 21.73
SAUDI ARAB 17.35 21.3
NEPAL 12.4 16.42
PAKISTAN IR 4.05 14.11
VIETNAM SOC REP 7.45 14.08
IRAN 14.87 12.74
GINGER, SAFFRON, TURMERIC (CURCUMA),
THYME, BAY LEAVES, CURRY AND OTHER SPICES
2013-14

USA
11%
22% U ARAB EMTS
3% 6%
BANGLADESH PR
UK
9% SAUDI ARAB
15% NEPAL
13% PAKISTAN IR
6% VIETNAM SOC REP
15% IRAN
GINGER, SAFFRON, TURMERIC (CURCUMA), THYME,
BAY LEAVES, CURRY AND OTHER SPICES
COUNTRY 2014-15 2015-16
USA 34.03 43.93
UK 21.73 26.17
U ARAB EMTS 29.28 24.83
SAUDI ARAB 21.3 23.88
BANGLADESH PR 25.23 23.41
IRAN 12.74 19.76
NEPAL 16.42 14.74
VIETNAM SOC REP 14.08 13.1
GERMANY 8.91 13.02
GINGER, SAFFRON, TURMERIC (CURCUMA), THYME,
BAY LEAVES, CURRY AND OTHER SPICES
2014-15

5% USA
8% 18% UK
9% U ARAB EMTS
SAUDI ARAB
7% 12% BANGLADESH PR
IRAN
14% NEPAL
16% VIETNAM SOC REP
11% GERMANY
 TURMERIC
ITC HS - 091030
COUNTRY 2012-2013 2013-2014
USA 10.02 9.06
U ARAB EMTS 9.77 7.39
IRAN 7.21 14.51
MALAYSIA 6.96 8
BANGLADESH PR 5.75 1.81
JAPAN 5.13 4.86
UK 4.55 4.55
 TURMERIC
ITC HS - 091030
2012-2013

9%
20% USA
10% U ARAB EMTS
IRAN
12% MALAYSIA
20% BANGLADESH PR
JAPAN
14% UK
15%
 TURMERIC
ITC HS - 091030
COUNTRY 2013-2014 2014-2015
IRAN 14.51 11.96
USA 9.06 9.94
MALAYSIA 8 9.47
U ARAB EMTS 7.39 8.44
JAPAN 4.86 5.62
SAUDI ARAB 4.71 5.37
UK 4.55 5.53
 TURMERIC
ITC HS - 091030
2013-2014

9%
IRAN
9% 27% USA
MALAYSIA
9%
U ARAB EMTS
JAPAN
14% SAUDI ARAB
17%
UK
15%
 TURMERIC
ITC HS - 091030
COUNTRY 2014-2015 2015-2016
IRAN 11.96 18.29
USA 9.94 15.89
MALAYSIA 9.47 10.07
U ARAB EMTS 8.44 8.1
BANGLADESH PR 8.34 15.49
SRI LANKA DSR 5.69 6.6
JAPAN 5.62 5.33
 TURMERIC
ITC HS - 091030
2014-2015

9%
20% IRAN
10%
USA
MALAYSIA
14% U ARAB EMTS
17% BANGLADESH PR
SRI LANKA DSR
14% JAPAN
16%
 TURMERIC
ITC HS - 091030
COUNTRY 2015-2016 2016-2017
IRAN 18.29 20.23
USA 15.89 25.2
BANGLADESH PR 15.49 29.59
MALAYSIA 10.07 9.58
U ARAB EMTS 8.1 11.42
UK 6.73 8.24
SRI LANKA DSR 6.6 6.65
 TURMERIC
ITC HS - 091030
2015-2016

8%
23% IRAN
8%
USA
10% BANGLADESH PR
MALAYSIA
U ARAB EMTS
12% 20%
UK
SRI LANKA DSR
19%
 TURMERIC
ITC HS - 091030
COUNTRY 2016-2017 2017-2018
BANGLADESH PR 29.59 8.12
USA 25.2 30.79
IRAN 20.23 16.07
U ARAB EMTS 11.42 10.23
MALAYSIA 9.58 9.93
UK 8.24 7.57
SAUDI ARAB 7.49 5.24
 TURMERIC
ITC HS - 091030
2016-2017

7%
7% BANGLADESH PR
26%
USA
9.58, 9% IRAN
U ARAB EMTS
10%
MALAYSIA
UK
23%
18% SAUDI ARAB
 CARDAMOM
COUNTRY 2012-2013 2013-2014
U ARAB EMTS 35.5 30.55

VIETNAM SOC REP 34.43 99.16

USA 28.12 26.8

MALAYSIA 21.7 29.6

EGYPT A RP 18.53 15.12

PAKISTAN IR 14.44 13.65

SAUDI ARAB 12.99 14.71

 CARDAMOM
2012-2013

12.99,
21% U ARAB EMTS
9% 8%
VIETNAM SOC REP
USA
11%
MALAYSIA
EGYPT A RP
21%
13% PAKISTAN IR
SAUDI ARAB
17%
 CARDAMOM
COUNTRY 2013-14 2014-2015
VIETNAM SOC REP 99.16 89.66
U ARAB EMTS 30.55 44.63
MALAYSIA 29.6 33.04
USA 26.8 30.76
EGYPT A RP 15.12 17.04
SAUDI ARAB 14.71 12.32
UK 13.99 15.93
 CARDAMOM
2013-14

6% VIETNAM SOC REP

6%
U ARAB EMTS
7%
MALAYSIA
43%
USA
12%
EGYPT A RP
SAUDI ARAB
13% UK

13%
 CARDAMOM
COUNTRY 2014-2015 2015-2016
VIETNAM SOC REP 89.66 58.59

U ARAB EMTS 44.63 19.98

MALAYSIA 33.04 34.63

USA 30.76 35.84

PAKISTAN IR 19.96 11

EGYPT A RP 17.04 10.15

UK 15.93 18.33
 CARDAMOM
Sales
0%
6% COUNTRY
7% VIETNAM SOC REP
8% U ARAB EMTS
36%
MALAYSIA
USA
12%
PAKISTAN IR
EGYPT A RP
13% UK
18%
 CARDAMOM
COUNTRY 2015-2016 2016-2017
VIETNAM SOC REP 58.59 118.98
USA 35.84 40.57
MALAYSIA 34.63 30.05
U ARAB EMTS 19.98 26.31
UK 18.33 17.42
SAUDI ARAB 12.63 13.42
PAKISTAN IR 11 9.75
 CARDAMOM
2015-2016

6%
7% VIETNAM SOC REP
31% USA
9%
MALAYSIA
U ARAB EMTS
10%
UK
SAUDI ARAB
18% 19% PAKISTAN IR
 CARDAMOM
COUNTRY 2016-17 2017-2018
VIETNAM SOC REP 118.98 142.49
USA 40.57 41.08
MALAYSIA 30.05 27.21
U ARAB EMTS 26.31 32.3
BANGLADESH PR 24.31 40.95
UK 17.42 17.26
SAUDI ARAB 13.42 13.6
 CARDAMOM
2016-17

5% VIETNAM SOC REP

6% USA
9% MALAYSIA
44% U ARAB EMTS
10% BANGLADESH PR
UK
11% SAUDI ARAB

15%
GOVERNMENT SCHEMES AND POLICY
HS Code Item w.e.f. Unit Drawback when Drawback when All Industry
Description Cenvat facility has Cenvat facility has Drawback Rate
not been availed been availed

Drawback Rate Drawback Rate

091010 Ginger: 15-Nov-2016 Kg 1.00% 0.15% Fixed

091020 Saffron: 15-Nov-2016 Kg 1.00% 0.15% Fixed

091030 Turmeric 15-Nov-2016 Kg 1.00% 0.15% Fixed

(Curcuma):

091099 Other: 15-Nov-2016 Kg 1.00% 0.15% Fixed

091040 Thyme; bay 01-Sep-2008 1.00% 1.00% Fixed

leaves:

09109914 Ajwain 15-Nov-2016 Kg 1.00% 0.15% Fixed

09109922 Cumin 15-Nov-2016 Kg 1.00% 0.15% Fixed

09109931 Cardamom 15-Nov-2016 Kg 1.00% 0.15% Fixed

 MEIS RATES
ITC(HS) Code Item Description Effective Date MEIS RATE

09109100 CARDAMAON 01/11/2017 5

09041120 PEPPER 01/11/2017 5
09109914 AJWAIN 01/11/2017 7
09092110 CORINDER 01/11/2017 5
09103010 TURMERIC 01/11/2017 7
09102010 Saffron stigma 01/11/2017 5
08134010 Tamarind, dried 01/11/2017 7
09042020 CHILLI 1/11/2017 5
09061110 Cinnamon Bark 01/11/2017 5
 Environmental
Scan

Internal External
Analysis Analysis

Strengths Weaknesses Opportunities Threats

 Strengths
 It is one of the fastest growing industries.
 The exports of spice industry are increasing day by day.
 Easy availability of raw material.
 Less investment is required.
 Easily availability of manpower.
 No substitute available.
 A firm/industry’s strengths are its resources and capabilities that can be
used as a basis for developing comparative advantage in the market
 These strengths are instrumental in achieving the objectives.
 Weakness
 The products can’t be stored for long time.
 Environment factor affect the raw materials and thus the final
product may be affected.
o Transportation cost is higher as compared to other industry.
o They refer to constraints or obstacles which check the movement
in certain desire direction, and may also inhibit the firm industry
in gaining distinctive comparative advantage.
o These weaknesses hinder the achievement of objectives.
 Opportunities
 There is vast market to capture.
 Good foreign demand for the product.
 The market of packed spices is increasing day by day.
 Environmental opportunities is an attractive area for
firm/industry’s action in which it has comparative advantage and
which help in achieving its goals. These are the external
conditions that are helpful in achieving the objectives
 Threats

 Loose spices in market are major threat to industry.

 Stocking habits of consumers and not purchasing when
needed also affects sales.
 Cutthroat competition in industry is also a threat.
 An environmental threats are challenges posed by an
unfavorable trend or development in the environment
that would lead in the absence of purposeful action, to the
erosion of the firm / industry4 s present position and are
harmful in achieving the desired objectives.
 CONCLUSION
 India still has maintained the charm of its spices. Trend in production of
spices in India gives a positive signal as area, production and productivity
of spices are increasing every year. Due to high demand from European
country and rest of the world, the export of Indian spices is also showing a
positive trend. The new marketing initiative such as future trading in
spices has also proven a remarkable success in spice marketing. With
these entire positive aspects one can conclude that the future of Indian
spices is very bright and the unit/firms involved in production, processing
and trading of spices (raw/processed) will gain a better growth.
BY:-RIYA BHATT
POOJA NAGPAL
YASHWANT SHARMA